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Note 4 - Goodwill and Other Intangible Assets | 9 Months Ended
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Jun. 27, 2021
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
4 | GOODWILL AND OTHER INTANGIBLE ASSETS
Changes in the carrying amount of goodwill are as follows:
|  |  | 39 Weeks Ended |
|  |  | June 27, |
(Thousands of Dollars) |  | 2021 |
Goodwill, gross amount |  |  | 1,617,174 |
Accumulated impairment losses |  |  | (1,288,729 | )
Goodwill, beginning of September 27, 2020 |  |  | 328,445 |
Measurement period adjustments |  |  | 1,759 |
Goodwill, end of period |  |  | 330,204 |
Identified intangible assets consist of the following:
|  | June 27, |  |  | September 27, |
(Thousands of Dollars) |  | 2021 |  |  | 2020 |
Non-amortized intangible assets: |  |  |  |  |  |  |  |
Mastheads |  |  | 40,459 |  |  |  | 40,459 |
Amortizable intangible assets: |  |  |  |  |  |  |  |
Customer and newspaper subscriber lists |  |  | 774,291 |  |  |  | 774,604 |
Less accumulated amortization |  |  | 651,704 |  |  |  | 632,457 |
|  |  | 122,587 |  |  |  | 142,147 |
Non-compete and consulting agreements |  |  | 28,656 |  |  |  | 28,656 |
Less accumulated amortization |  |  | 28,638 |  |  |  | 28,582 |
|  |  | 18 |  |  |  | 74 |
Other intangible assets, net |  |  | 163,064 |  |  |  | 182,680 |
The Company recognized $27,620,000 of advertiser relationships, $27,850,000 of subscriber relationships, $19,560,000 of commercial print relationships and $20,390,000 of indefinite-lived masthead assets as part of the Transactions as defined in Note 7. Annual amortization of intangible assets for the five years ending December 2022 to December 2026 is estimated to be $21,494,000, $20,081,000, $18,043,000, $12,707,000, and $7,218,000, respectively. The weighted average amortization period for those amortizable assets acquired as part of the Transactions is 13.7 years. The Company recognized $79,896,000 of Goodwill as part of the Transactions as defined in Note 7. The value of the acquired Goodwill is primarily related to an assembled workforce and expected synergies from combining operations. For tax purposes, the amount of Goodwill that is expected to be deductible is $42,442,000. Refer to Note 7 for more information regarding final purchase accounting for the Transactions.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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